Trillion Dollar Triage
How Jay Powell and the Fed Battled a President and a Pandemic - and Prevented Economic Disaster
Trillion Dollar Triage is the definitive, gripping history of a creative and unprecedented battle to shield the American economy from the twin threats of a public health disaster and economic crisis. Drawing on extensive interviews, Nick Timiraos details the tense meetings, late night phone calls, and crucial video conferences behind the largest, swiftest U.S. economic policy response since World War II.
NOW IN BOOKSTORES
About the Author
Nick Timiraos is chief economics correspondent for The Wall Street Journal, where he is responsible for covering the Federal Reserve and other major developments in U.S. economic policy. Past topics also includes the Treasury Department, fiscal policy, economic and labor market issues, U.S. housing and mortgage markets, and the presidential election.
“This is a riveting story of policy making in crisis and an illuminating examination of how drastically the Fed’s role in the economy has changed.”
“This is the book we need. The Federal Reserve’s actions since the pandemic hit have been numerous, varied, huge—and poorly understood. Nick Timiraos straightens it all out with insight, perspective, and stellar reporting. Thank you, Nick.”
―Alan S. Blinder, Professor of Economics at Princeton University and former Vice Chair of the Federal Reserve
The Wall Street Journal, Dec 15, 2021
Fed Officials Project Three Interest Rate Rises in 2022 and Accelerate Stimulus Wind-Down
The Federal Reserve set the stage for a series of interest rate increases beginning next spring, completing a major policy pivot that showed much greater concern about the potential for inflation to stay high.